HFF has closed the sale of and arranged financing for Two Century Centre, a 221,177-square-foot, Class A office property in Schaumburg. Centennial Center, a 266,884-square-foot, Class A office building adjacent to Two Century Centre was also included in the financing portion of the transaction.
HFF marketed Two Century Centre on behalf of Pearlmark Real Estate Partners LLC. Sovereign Partners LLC purchased the asset free and clear of existing debt. HFF also brokered the sale of the adjacent One Century Centre in a separate transaction. Additionally, HFF worked on behalf of the buyer to secure a $27 million, floating-rate acquisition loan for both Two Century Centre and Centennial Center through RBS Citizens Bank.
The buildings are located at 1700 and 1900 Golf Road on approximately 20.6 acres adjacent to the junction of Interstates 90 and 290, approximately 25 miles northwest of Chicago’s central business district. Renovated in 2004, Two Century Centre is 88.6 occupied by tenants such as Colgate-Palmolive, American Auto Guardian and Benefits Express. Centennial Center was renovated most recently in 2012 and is leased to tenants such as United Healthcare, Crawford & Co. and MetLife.
HFF’s investment sales team was led by senior managing directors Jeff Bramson and Jaime Fink and managing director Mark Katz.
The HFF debt placement team representing the borrower was led by managing directors Matthew Schoenfeldt and Christopher Carroll and senior managing director Mike Kavanau.